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Wednesday, 10 April 19
CHINA'S GROWING THERMAL COAL SUPPLY TO PRESSURE EXPORTERS - FITCH RATINGS
 Growing Chinese thermal coal supply is likely to lead to further tightening of import controls by the government, putting pressure on seaborne coal prices and adding order uncertainties for exporters, Fitch Ratings and CRU say. Miners from Australian and Indonesia are the most exposed, but the credit impact is muted thanks to sufficient rating headroom as we have already incorporated a downward pricing trend in our rating assumptions.
The Chinese coal market’s tightness has eased due to a combination of weaker demand and improved domestic supplies. Chinese coal demand has declined as residential power consumption reduced at the end of the winter heating season in mid-March and hydro supply increased in south China due to heavy rains. Chinese domestic coal supply has gradually improved in recent quarters as the pace of capacity closures has slowed and incremental capacity has been expedited to bring down fuel costs, according to CRU. Inventories at the six main power producing groups edged up to 16.0 million tonnes in late March, 13% higher than the average for 2018 of 14.1 million tonnes.
Growing domestic supply is likely to prompt the Chinese government to tighten control over thermal coal imports. This would imply higher order volatility and risks for seaborne coal suppliers targeting the Chinese market, which are mainly miners in Australia and Indonesia. The Chinese government appears to have adopted an on-and-off importing policy since 2017 by implementing stricter checks when domestic supply is sufficient and speeding up clearing when domestic supply is tight. Australian coal cargoes, for example, have been facing increasing delays clearing customs at Chinese ports since February, according to CRU.
While seaborne coal remains price competitive compared to domestic coal, risks of long clearing time and import bans may discourage Chinese consumers from using seaborne coal, especially when domestic supply is sufficient.
Australian coal producers are likely to face the risk of order cancellation, and to some degree, be forced to compete for sales in alternative countries. This may lead to weak prices in the seaborne market, especially for the mid-content-value coal of around 5,500kcal/kg that Chinese importers typically buy from Australia.
Imports from Indonesia have been less affected by the recent Chinese controls, according to press reports, although Indonesian producers are still likely to come under pressure to find new markets due to overall declining Chinese demand for seaborne coal, as well as increasing Indonesian domestic output, and weaker-than-expected domestic demand.
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Tuesday, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
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